Trading Forecast Natural Gas

Natural Gas closed higher on Friday as it extends the rally off last week's low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If it extends the rally off December's low, the 50% retracement level of the June-October-decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted while opening the door for a decline.